Healthcare, the second best performing sector the last 3 years running (reminds me of the Buffalo Bills 4 consecutive Super Bowl runner ups from ’91-’94) and some of the moves in the group Monday were eye catching. Best of breed REGN slipped almost 5%, ALKS dropped nearly 6% and little known leaders OPHT and PTLA fell 7%. This industry will certainly be one to watch for a myriad of reasons with probably the most important one being the heightened activity of mergers last year. The pace in all likelihood will not be met with the same fervor of 2015 and that can be a concern. Below is the chart of one of our favorite names in the group STE and precisely how it was presented in our Thursday 12/24 Game Plan.
Double bottom trigger STE 77.29. Stop 73.90.